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4(1)The chairman and other members of the Corporation shall be appointed by the Secretary of State from among persons who appear to him to have had wide experience of, and shown capability in, transport, industrial, commercial or financial matters, administration, applied science, or the organisation of workers.
(2)A member of the Corporation shall hold and vacate his office in accordance with the terms of his appointment and shall, on ceasing to be a member, be eligible for re-appointment.
(3)A member may at any time by notice in writing to the Secretary of State resign his office.
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